From Global Data via Yahoo Finance, May 8:
Quanta Services and Kiewit Energy Group have been awarded combined contracts worth $1.7bn for the Grain Belt Express transmission line - set to be the largest electric transmission project in the US.
Developed by Invenergy, the 800-mile (1,287.5km) high-voltage direct current (HVDC) line will cross Kansas, Missouri, Illinois and Indiana.
The project will enhance US energy delivery capacity by 5GW and deliver $52bn in energy cost savings over 15 years.
Phase one development, linking Kansas and Missouri, will begin in 2026 and create 4,000 jobs.
Quanta and Kiewit plan to source materials locally, supporting regional economies, with the main offices for phase one to be located in Kansas.
Invenergy founder and CEO Michael Polsky stated: “We're pleased to partner with Quanta and Kiewit as we build the biggest transmission line in US history. Grain Belt Express is a transformative project that delivers jobs and deepens America's energy supply chain capabilities in innovative transmission technology.
“Interregional transmission is key to unleashing American energy dominance to power our nation's businesses and strengthen our national security.”....
....MUCH MORE
Our comment in January when PWR and GEV were getting brutalized:
"AI-exposed power stocks get crushed as fears about DeepSeek trigger stock market sell-off" (GEV; OKLO; PWR; CEG)
....Referring back to the introduction to this morning's "GE Vernova hit with downgrade by Guggenheim (GEV)":
And though it is based on valuation rather than corporate or macro events the downgrade is, unfortunately, from Guggenheim who have been very timely in their calls.
See for example December 5's "GE Vernova shares see 33% target hike from Guggenheim, Buy rating upheld"
In pre-market action the stock is down $57.49 (13.67%) to $363.00.
The other "quality" name we have been touting, electric infrastructure contractor Quanta Services is down $28.01 (7.82%) at $330.02.
It is days like today that are the reason we prefer quality over super-spec lottery tickets: the good ones come back (eventually) the rest may, or may not.
The small modular nuke wannabes OKLO; SMR and the quantum computing stocks, RGTI, QBTS etc. are among the lottery tickets that may or may not come back.
Quanta and GE Vernova will survive and thrive. Even without AI. The U.S. and the world need to string more powerlines and need more generating capacity that will come on line faster than nukes or a baby nukes....
In the month of April the pair were two of the five best performing stocks in the S&P 500.
After trading up $5.94 (+1.87%) yesterday the stock is up again pre-market, $328.75 +$5.16 (1.59%)
Most recently:
May 1 - Quanta Services Beats Top and Bottom, Raises, Stock Jumps (PWR
May 1 - Quanta Services Q1 2025 Earnings Call Highlights And Full Transcript (PWR)
